Tablespace Technologies, a Bengaluru-based provider of managed workspace solutions, files draft papers for an ₹800 crore IPO, signalling its growth ambitions amidst India’s active primary market and strong industry fundamentals.
Tablespace Technologies has taken the first formal step towards a public listing, filing draft papers with India’s markets regulator for an initial public offering that will include a fresh issue of shares worth ₹800 crore, according to The Hindu BusinessLine. The proposed sale will also include an offer for sale of up to 6.55 crore equity shares by existing shareholders, among them promoter AGS TS II Holdings, which is ultimately owned and controlled by Hillhouse Investment funds, alongside Karan Chopra and Kunal Mehra.
The Bengaluru-based company, which offers managed workspace solutions to global capability centres, Fortune 500 groups and multinational corporations, plans to use the proceeds to reduce debt, fund acquisitions and meet general corporate needs, the draft prospectus says. Its integrated model covers leasing, design, fit-out, operations, facilities management and compliance, allowing clients to deal with one provider across the workplace lifecycle.
The filing also points to a sizeable operating footprint. Tablespace had 9.33 million square feet of leased space as of March 31, 2026, with 98% of that area in Grade A properties across 33 office clusters in eight tier one cities, according to the CBRE report cited in the draft papers. The company said mature facilities were 92.64% occupied, which it described as the highest level among benchmarked operators, while normalised revenue rose 56.42% year on year to ₹2,477.68 crore in fiscal 2026.
The IPO arrives amid continuing activity in India’s primary market. Investing.com said the company had been preparing a filing of up to $350 million, while recent public offerings from companies such as Shadowfax Technologies and CSM Technologies underline the range of businesses tapping the market this year. Axis Capital, BofA Securities India, CLSA India, IIFL Capital Services and JM Financial are the book-running lead managers, with KFin Technologies as registrar.
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